The changes in consumer habits benefit the behemoths of mass distribution. This Tuesday, Carrefour published its quarterly results. And they are good. In the first quarter of 2020, the group posted growth (on a like-for-like basis) in sales of + 7.8% over one year, it said in a press release with a “particularly marked contrast between food (+9, 9% on a like-for-like basis) and non-food items (-3.5% on a like-for-like basis) “taking into account the new consumption habits resulting from confinement.
“In a very atypical quarter, our sales were buoyed in January and February by the success of strategic initiatives launched two years ago, then experienced a notable acceleration in March. They thus recorded sustained growth over the entire period and in all our geographies “, welcomed the CEO of the group, Alexandre Bompard, quoted in the document.
In France, Carrefour recorded a marked increase in sales in the first quarter of + 4.3% on a like-for-like basis compared to the results of the first quarter of 2019. In Europe, this increase reached 6.1% and in Latin America it is 17.1% over one year.
Overall, the group’s TTC sales amounted to € 19.445 billion in the first quarter. The increase was therefore 7.8% on a like-for-like basis over one year, and + 7.5% at constant exchange rates. At current exchange rates, the total change in turnover amounts “only” to + 3.3%.
All relevant store formats
In detail, the group explains that “all store formats and e-commerce have benefited from this very sustained momentum in the food industry”. According to the press release, traffic and average baskets reached “record levels”.
“Once the containment measures were put in place, consumers moved towards the proximity and the supermarkets, closer to their homes and more accessible, at the expense of hypermarkets. In all formats, the number of store visits has been reduced, while the average basket has increased sharply. Food e-commerce has retained its strong momentum, “it said.
In detail, sales jumped in the first quarter by 45% year-on-year in food e-commerce and 30% in organic products.